Savanna Plans $35M Rehab at Falchi Building in Long Island City

Savanna plans to spend $35 million to renovate the Falchi Building, a five-story office and retail building in the Factory District of Long Island City, Queens.

Workers will modernize the lobby, upgrade building systems and improve the retail space, a food-focused corridor similar to the Chelsea Market food hall in Manhattan.

“These improvements will allow us to reposition the Falchi Building as a best-in-class property in Long Island City, while still maintaining many of its attractive physical attributes including loft-style floor plates, large windows and generous ceiling heights,” said Andrew Kurd, director of Savanna.

The 711,194-square-foot building is currently 85% leased. Work is expected to be completed in early 2018. Cushman & Wakefield will lead the leasing campaign for office and retail space.

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